Team Bondi Rumored to Be Selling Assets, IPs

Australian developer Team Bondi is reportedly selling off assets and game intellectual property, according to an anonymous source speaking with Develop.

The source says Team Bondi is selling its remaining stuff to a Sidney, Australia media company called Kennedy Miller Mitchell (KMM), which may or may not be acquiring the developer. The insider source, who reportedly works locally with both KMM and Team Bondi, has said that all of the L.A. Noire developer’s staff have been offered positions at KMM. Kotaku reported that Team Bondi head Brenden McNamara recently toured KMM with his staff, which Develop’s source corroborates. Develop also says that McNamara had a meeting with his staff offering them positions at KMM or severance packages.

Speculation has been pretty rampant that Team Bondi is bankrupt or otherwise in dire straits and potentially getting bought, and if Develop’s source is on the up-and-up, it seems that the buyout is the case. Australian law means details of any sale won’t necessarily go public for as long as 28 days, however.

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